1.Product: Laterite/Saprolite Nickel Ore
2.Specification: Nickel Content 1.6% - 2.4%
Fe Max.30%
Phosporous Max.0.05%
Moisture Content Max.30%
Size 0.5-300 mm 100%
3.Price FOB(DMT USD$): 7 Days CASH LME x Ni Content x Recovery Factor.
4.Packing : Bulk
5.Origin : Philippines
6.Contract Terms: Twelve (12) monthly shipment contract after Trial Shipment at a minimum of 100,000MT per month
7.Contract Volume: 50,000 MT (+/-10%) as Trial Shipment. If successful, minimum of 100,000 MT monthly shipment for 12 consecutive calendar months, with rolls and extensions.
8.Surveyor: SGS or equivalent
9.Payment Term :
a) For the Trial Shipment, 100% Irrevocable, Transferable L/C at sight by Top 100 Prime World Bank
b) For the 12 succeeding monthly shipment, 1 month SBLC/BG and 11 100% Irrevocable, Transferable, Revolving L/C at sight by Top 100 Prime World Bank.
10.Delivery: within 30 days after L/C is received.
CLOSING PROCEDURES:
1. Seller issues Soft Offer.
2. Buyer issues Irrevocable Corporate Purchase Order (ICPO).
3. Seller and Buyer negotiate acceptability on all terms and conditions.
4. Seller and Buyer sign contract with clause to be effective after satisfactory site ocular inspection.
5. Seller facilitates the Buyer to conduct ocular inspection to the mining site.
6. Within three (3) banking days after satisfactory site ocular inspection, Buyer issues 100% Irrevocable, Transferable, L/C at sight.
7. With five (5) banking days upon receipt and acceptance of L/C, Buyer issues 2% PB in favor of the Buyer.
8. Seller delivers the commodity to the Port of Loading as agreed in the contract within thirty (30) days after receipt, acceptance and confirmation of L/C.
9. Payment of the commodity shall be made in United States Dollars (US$).
The internationally accepted standard of non-circumvention and non-disclosure are implicit in this offer, which is exclusive and valid from today’s date. The facsimile/email of these documents shall be deemed as original and shall be legally binding.
